Canada's Hudson's Bay makes takeover approach for Macy's: sources

Shares of Macy's, which had a market value of about $9.4 billion as of Thursday's close, were up 6 percent to $32.57 in midday trading on Friday. Hudson's Bay said it does not comment on rumors or speculation, while Macy's was not immediately available to comment. A deal would add another retailer to Hudson Bay's expanding portfolio, which includes Saks Fifth Avenue and Lord & Taylor in the United States, as well as Galeria Kaufhof in Europe.